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USDCAD trade ideas

POTENTIAL SHORT OPPORTUNITY USDCADHello everybody hope you are doing awesome! Just wanted to come on here and give a potential swing trading opportunity I see on the US DOLLAR VS CANADIAN DOLLAR (USDCAD). So let's dive in! Okay so let me give a breakdown for each timeframe of what I am seeing that led to my bias of the next potential move on USDCAD being to the downside for this upcoming week. Weekly Timeframe 1. Price is overbought coming into a past supply/resistance zone. Price last week left a downside wick (hanging man) formation which I believe will be filled 2. There is a nice demand zone and bullish trendline lining up to the downside (ALSO fib retracement 78.6% confluence) Daily Timeframe 1. Price is slowing down 2. Extreme bearish divergence on the daily timeframe 3. RSI is in overbought conditions (which you can see what has happened in the past) 4H Timeframe 1. Watching the buyer momentum making sure it isn't too strong (dominant) 2. Extreme bearish divergence as well 3. Watching for a run of weekly highs and maybe double divergence/run of highs ALRIGHT! Hope that made sense! I definitely see a good amount of potential confluence here on this setup so let's see how price forms this week and see if it plays out to the downside! If you enjoyed the analysis as always please boost this post and follow my page for more analysis! Cheers!
Short
by JosePips
9
USD/CAD 4H Bearish Double Top with RSI Divergence Trade SetupUSD/CAD 4-hour chart is forming a bearish double top pattern near a resistance zone, signaling a potential reversal. The RSI shows bearish divergence, with the price making higher highs while RSI trends lower, indicating weakening upward momentum. This setup suggests that a bearish move is likely if the price breaks below the key support level at 1.38138, which is the designated sell entry level in the plan. The stop loss is set above the double top, at 1.39624, to protect against a breakout above resistance. For targets, Take Profit Level 1 is set at 1.36665, while Take Profit Level 2 is positioned at 1.35443, aligning with lower support levels that could serve as points for a potential reversal or pause in the downtrend. The plan projects the double top breakdown using a red line labeled "Projection of DT," indicating the estimated move downward if the pattern completes. This trade strategy utilizes confluence between price action, RSI divergence, and a clear breakdown structure to establish a high-probability short trade setup.
Short
by Naqash16046
8
USDCAD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare
5
USDCAD - 4hrs ( Sell Trade Target Range 120 PIP ) 🟢 Pair Name :USD/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money 🟢 Key Technical / Direction ( Short ) ——————————— Bearish Break 1.38600 Area Reasons - Major Turn level - Visible Range lvn - CHannel Break - Choch - Fixed Range Hvn - Year High / P Bullish Reversal 1.37500 Area Reasons - Major Turn level - Visible Range Hvn - Trend Line - Pattern Target - choch
Short
by GoldenEngine
2
USD/CAD Short EntryLooking at the current formation of the broadening wedge at the current peaks on USDCAD. Will wait until we break the shown level of support and/or confirm breakout under the bottom trend with a 4HR Retest. Risk/Reward 2:1 Will Re-evaulate trade periodically and update as I see fit. With how crazy bullish USD has been lately I will not be jumping in early in hopes for a better position as there is the possibility the pattern will invalidate pushing USD/CAD even higher
Short
by Nicholas_k
2
USDCAD: ITF CURVE ANALYSIS (5D/12H) - DOWNTREND✨ USDCAD: ITF CURVE ANALYSIS (5D/12H) ✨ (DOWNTREND) SLO2 @ 1.40354 ⏳ SLO1 @ 1.4020 ⏳ MO @ 1.4000 - TIRGGERED (FOR THE BRAVE) SSO1 @ 1.38219 ⏳ TP1 @ 1.34155 TP2 @ 1.30740 TP3 @ 1.28224 TP4 @ 1.24338 TP5 @ 1.2150 (Secret TP) BLO1 @ 1.23404 ⏳ (DO NOT SET - ALLOW PA TO PASS/THEN SET AS BSO) BLO2 @ 1.21137 ⏳ 🔑 BLO = BUY LIMIT ORDER BSO = BUY STOP ORDER ITF = INTERMEDIATE TIME FRAME MO = MARKET ORDER PA = PRICE ACTION SLO = SELL LIMIT ORDER SSO = SELL STOP ORDER TP = TAKE PROFIT NOTE: This pair owes me money.... angry trade. FOR VIEWING PURPOSES ONLY.....LOL Intermediate time frames (4 hours to 6 day): — Offer a clearer picture of the underlying trend compared to short-term frames. — Provide more opportunities for confirmation signals and technical analysis. — Allow for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
Short
by oktane
1
USDCAD on its way to retest high?related monthly chart time in UTC+8 three white soldiers on 4 hr CAD unemployment rate soon stoch rsi hidden bullish divergence from 25 Sept 2024 -> trend continuation current fundamentals still support USD and CAD unlikely to strengthen retest of monthly high (either break or reverse monthly high to be retested) trump reelected, uncertainties surrounding his policies make managed funds unlikely to bet on a high beta commodity currency like CAD for now where there are so many other alternatives. retail are HUGE USDCAD shorters, ain't no free money like that! yesterday was unable to create lower low on daily. price currently bounced from various previous major daily swing highs, one can possibly say daily resistance retested and turned support and USDCAD on its way to retest monthly resistance bounced from channel dated back from 25 sept 2024 swing low, currently at bottom range of channel, good for longs for a range trade Friday as major news begin to settle and investors reassess upcoming risks successful break through of multiple vwap resistance with momentum at asian sesh etc What yall think?
Long
by FableHart
3
Heading into overlap resistance?USD/CAD is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.3893 Why we like it: There is an overlap resistance level which aligns with the 50% Fibonacci retracement. Stop loss: 1.3921 Why we like it: There is a pullback resistance level that is slightly below the 78.6% Fibonacci retracement. Take profit: 1.3850 Why we like it: There is a pullback support. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
1